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INTERACTIVE CHAPTER ORGANIZER

Page 149
KEY TERMS

Bar graph, p. 135

Class, p. 135

Circle graph, p. 136

Empirical Rule, p. 145

Frequency distribution, p. 134

Index numbers, p. 137

Line graph, p. 136

Mean, p. 139

Measure of dispersion, p. 143

Median, p. 141

Midpoint, p. 140

Mode, p. 142

Normal curve, p. 145

Normal distribution, p. 145

Ordered array, p. 141

Population, p. 139

Price relative, p. 137

Random sample, p. 139

Range, p. 143

Sample, p. 139

Sigma, p. 144

Standard deviation, p. 143

Variance, p. 143

Weighted mean, p. 139

Check Figures for Extra Practice Quizzes with Page References. (Worked-out Solutions in Appendix B.)

LU 5–1a (p. 139)

1. 911114
2. Pampers 40% 144°

3. 184.2%

LU 5–2a (p. 143)

Mean $23,250

Median $15,500

There is no mode.

LU 5–3a (p. 146)

1. Range is 55.

2. 1. Variance is 314.3.

2. Standard deviation is 17.7.

3. Between $1,500 and $2,500

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Critical Thinking Discussion Questions with Chapter Concept Check

1. Explain the mean, median, and mode. Give an example that shows you must be careful when you read
statistics in an article.

2. Explain frequency distributions and the types of graphs. Locate a company's annual report and explain
how the company uses graphs to highlight its performance. Does the company need more or fewer of
these visuals? Could price relatives be used?

3. Explain the statement that standard deviations are not accurate.

4. Chapter Concept Check. Referring to the chapter opener, visit the Apple website. Gather new
statistics on the iPad and/or iPhone. Use concepts in this chapter for your presentation.

END-OF-CHAPTER PROBLEMS

www.mhhe.com/slater2014

Name Date

Check figures for odd-numbered problems in Appendix C

DRILL PROBLEMS

Calculate the mean (to the nearest hundredth): LU 5-2(1)

5–1. 14, 8, 6, 2

5–2. 8, 11, 19, 17, 15

5–3. $55.83, $66.92, $108.93

5–4. $1,001, $68.50, $33.82, $581.95

5–5. Calculate the grade-point average: A = 4, B = 3, C = 2, D = 1, F = 0 (to nearest tenth). LU

5-2(2)

Courses CreditsGrade
Computer Principles 3 B
Business Law 3 C
Logic 3 D
Biology 4 A
Marketing 3 B

Chapter 5 Excel

5–6. Find the weighted mean (to the nearest tenth): LU 5-2(2)

ValueFrequencyProduct
4 7  
8 3  
2 9  
4 2  

5–7. Find the mean of the group: LU 5-2(2)

Class Frequency (f)Midpointf × Midpoint

1–250 10    
251–500 15    
501–750 9    
Total   Total  

The mean of the grouped data is

Find the median: LU 5-2(3)

5–8. 55, 10, 19, 38, 100, 25

5–9. 95, 103, 98, 62, 31, 15, 82

Find the mode: LU 5-2(4)

5–10. 8, 9, 3, 4, 12, 8, 8, 9

5–11. 22, 19, 15, 16, 18, 18, 5, 18

5–12. Given:

Truck cost2012$30,000
Truck cost2008$21,000

Calculate the price relative (rounded to the nearest tenth percent). LU 5-1(3)

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5–13. Given the following sales of Lowe Corporation, prepare a line graph (run sales from
$5,000 to $20,000). LU 5-1(2)

2012$ 8,000
2013 11,000
2014 13,000
2015 18,000

Chapter 5 Excel

5–14. Prepare a frequency distribution from the following weekly salaries of teachers at Moore
Community College. Use the following intervals: LU 5-1(1)

$200–$299.99
300–399.99
400–499.99
500–599.99

$210$505$310$380$275
290 480 550 490 200
286 410 305 444 368

5–15. Prepare a bar graph from the frequency distribution in Problem 5–14. LU 5-1(2)

5–16. How many degrees on a circle graph would each be given from the following? LU 5-1(2)

Wear digital watch42%

Wear traditional watch51%
Wear no watch 7%

5–17. Calculate the range for the following set of data: 117, 98, 133, 52, 114, 35. LU 5-3(1)
 Calculate the variance and standard deviation for the following sample sets of data. Round the final
answers to the nearest tenth. LU 5-3(2)

5–18. 83.6, 92.3, 56.5, 43.8, 77.1, 66.7

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5–19. 7, 3, 12, 17, 5, 8, 9, 9, 13, 15, 6, 6, 4, 5

5–20. 41, 41, 38, 27, 53, 56, 28, 45, 47, 49, 55, 60

5–21. Calculate the variance and standard deviation for the following sample: LU 5-3(2)

151522451030

WORD PROBLEMS

5–22. The first Super Bowl on January 15, 1967, charged $42,000 for a 30-second commercial.
For Super Bowl XLVI, NBC charged an average of $3.5 million for each 30 seconds and sold 70
commercial slots. Create a line graph for the following Super Bowl 30-second commercial costs: 2007,
$2,385,365; 2008, $2,699,963; 2009, $2,999,960; 2010, $2,954,010; 2011, $3,100,000; and 2012,
$3,500,000. LU 5-1(2)

Chapter 5 Excel

5–23. The American Kennel Club announced the “Most Popular Dogs in the U.S. for 2011.”
Labrador retrievers remained number one for the 21st consecutive year. German shepherds came in
second followed by beagles, golden retrievers, and Yorkshire terriers. Create a circle graph for “Dogs
for Life Kennel Club” with the following members: 52 labrador retrievers, 33 German shepherds, 22
beagles, 15 golden retrievers, and 10 Yorkshire terriers. LU 5-1(2)

Chapter 5 Excel

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5–24. College graduates continue to earn significantly more than high school graduates. In fact, the
wage college graduates earn has been increasing to almost twice as much as that of high school
graduates. If graduates in 2013 earn $40,632, $35,554, $42,192, $33,432, $69,479, and $43,589, what
is the variance and standard deviation for this sample? Round to a whole number for each calculation.
LU 5-3(2)

5–25. Bill Small, a travel agent, provided Alice Hall with the following information regarding the cost
of her upcoming vacation. Construct a circle graph for Alice. LU 5-1(2)

Transportation 35%
Hotel 28%
Food and entertainment20%
Miscellaneous 17%

5–26. Jim Smith, a marketing student, observed how much each customer spent in a local convenience
store. Based on the following results, prepare (a) a frequency distribution and (b) a bar graph. Use
intervals of $0–$5.99, $6.00–$11.99, $12.00–$17.99, and $18.00–$23.99. LU 5-1(1, 2)

$18.50$18.24$ 6.88$9.95
16.10 3.55 14.10 6.80
12.11 3.82 2.10  
15.88 3.95 5.50  

5–27. Angie's Bakery bakes bagels. Find the weighted mean (to the nearest whole bagel) given the
following daily production for June: LU 5-2(2)
 200150200150200
150190360360150
190190190200150
360400400150200
400360150400360
400400200150150

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5–28. Melvin Company reported sales in 2014 of $300,000. This compared to sales of $150,000 in
2013 and $100,000 in 2012. Construct a line graph for Melvin Company. LU 5-1(2)

5–29. The mean useful life of car batteries is 48 months. They have a standard deviation of 3. If
the useful life of batteries is normally distributed, calculate (a) the percent of batteries with a useful life
of less than 45 months and (b) the percent of batteries that will last longer than 54 months. LU 5-3(2)

Chapter 5 Excel

5–30. The average weight of a particular box of crackers is 24.5 ounces with a standard deviation of
0.8 ounce. The weights of the boxes are normally distributed. What percent of the boxes (a) weigh
more than 22.9 ounces and (b) weigh less than 23.7 ounces? LU 5-3(2)

5–31. An examination is normally distributed with a mean score of 77 and a standard deviation of 6.
Find the percent of individuals scoring as indicated below. LU 5-3(2)

1. Between 71 and 83

2. Between 83 and 65

3. Above 89

4. Less than 65

5. Between 77 and 65

5–32. Listed below are the sales figures in thousands of dollars for a group of insurance salespeople.
Calculate the mean sales figure, the variance, and the standard deviation. Round to the hundredths. LU
5-3(1, 2)

$117$350$400$245$420
223 275 516 265 135
486 320 285 374 190

5–33. The time in seconds it takes for 20 individual sewing machines to stitch a border onto a
particular garment is listed below. Calculate the mean stitching time, the variance, and the standard
deviation to the nearest hundredth. LU 5-3(1, 2)

6769647173
5871646267
6257676065
6063725664

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CHALLENGE PROBLEMS

5–34. Listed below are annual revenues for a few travel agencies:

AAA Travel Agency $86,700,000

Riser Group 63,200,000
Casto Travel 62,900,000
 Balboa Travel 36,200,000
Hunter Travel Managers 36,000,000

(a) What would be the mean and the median? (b) What is the total revenue percent of each agency? (c)
Prepare a circle graph depicting the percents. LU 5-1(2), LU 5-2(1, 2, 3)

5–35. The following circle graph is a suggested budget for Ron Rye and his family for a month. Ron
would like you to calculate the percent (to the hundredth) for each part of the circle graph along with
the appropriate number of degrees. LU 5-1(2)

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SUMMARY PRACTICE TEST

1. In July, Lee Realty sold 10 homes at the following prices: $140,000; $166,000; $80,000;
$98,000; $185,000; $150,000; $108,000; $114,000; $142,000; and $250,000. Calculate the mean and
median. (pp. 139, 141) LU 5-2(1, 3)

Chapter 5 Excel

2. Lowes counted the number of customers entering the store for a week. The results were 1,100; 950;
1,100; 1,700; 880; 920; and 1,100. What is the mode? (p. 142) LU 5-1(4)

3. This semester Hung Lee took four 3-credit courses at Pikes Peak Community College. She received an
A in accounting and C's in history, psychology, and algebra. What is her cumulative grade point
average (assume A = 4 and C = 2 to the nearest hundredth? (p. 140) LU 5-2(2)

4. Pete's Variety Shop reported the following sales for the first 20 days of May. Prepare a frequency
distribution for Pete. (p. 134) LU 5-1(1)

$100$400$600$400$600
100 600 300 500 700
200 600 700 500 200
100 600 100 700 700

5. Leeds Company produced the following number of maps during the first 5 weeks of last year. Prepare a
bar graph. (p. 135) LU 5-1(2)

WeekMaps
1 800
2 600
3 400
4 700
5 300

6. Laser Corporation reported record profits of 30%. It stated in the report that the cost of sales was 40%
with expenses of 30%. Prepare a circle graph for Laser. (pp. 136–137) LU 5-1(2)

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 7. Today a new Explorer costs $39,900. In 1990, Explorers cost $24,000. What is the price relative to the
nearest tenth percent? (p. 137) LU 5-1(3)

8. Calculate the variance and the standard deviation for the following set of data: 7, 2, 5, 3, 3, 10. Round
the final answer to the nearest tenth. (pp. 143–145) LU 5-3(2)

SURF TO SAVE
Making sense with numbers
PROBLEM 1

Average performance?

Visit your school's website to access your grades in classes you have completed up to this point. If you have
not completed more than five courses, then use grades from your high school courses. Convert your letter
grades to their numerical equivalent. Compute the mean and median for your grades.

Discussion Questions

1. What do these numbers tell you about your academic performance thus far?

2. What could you do to improve your grade average?

PROBLEM 2

One mean GDP

Go to https://www.cia.gov/library/publications/the-world-factbook and choose a country in The World

Factbook. Show how to use the GDP (Gross Domestic Product) purchasing power parity and the population
to calculate the mean GDP for this country. If this differs from the per capita GDP listed in the World
Factbook, explain why.

Discussion Questions

1. How does the GDP for the country you selected compare to the GDP for the United States?

2. What do you feel may be the reason for this difference?

PROBLEM 3

Driving up the money!

Go to http://www.nascar.com. Go to the driver standings for the Nationwide Series. Calculate the range,
mean, median, and mode of the top 15 drivers' earnings after the most recent race. If the season is not
currently in progress, use the final earnings results of the previous season.

Discussion Questions

1. How does the median relate to the highest-paid driver?

2. How does the median relate to the lowest-paid driver?

PROBLEM 4

Far and wide?

Track the time you spend commuting (driving, walking, bicycling, etc.) to work and/or school for one week.
Record each trip as a separate time. Once you have recorded all of your commute times, calculate the mean
and median for your commutes. Compare your answers with other students and discuss the differences.

Discussion Questions

1. What options are available for you to commute to school and work?

2. Based on your commute time analysis, would these other options increase or decrease your average
commute time?

MOBILE APPS

Calculator: Statistics (SaleCalc Software) Calculates basic statistics.

Mean, Median, Mode & Range Calculator (Kristin Whitehead) Quickly calculates the mean, median,
mode, and range of a set of numbers.

INTERNET PROJECTS

See text website www.mhhe.com/slater2014_sse_ch05

Page 159
PERSONAL FINANCE
A KIPLINGER APPROACH
BUSINESS MATH ISSUE

When you look at all of the statistics, it is evident that long-term care is not worth the premiums.

1. List the key points of the article and information to support your position.

2. Write a group defense of your position using math calculations to support your view.